Metavante Partners for Mobile Payments

MILWAUKEE – Metavante Corp. announced yesterday it has contracted with Monitise, the European provider of mobile banking systems, to operate a mobile payments system in the U.S. The joint venture will provide a common and secure interface for cell phones and other mobile systems. Metavante, a unit of Marshall & Ilsley banking, provides payment technologies for more than 8,600 banks and credit unions and businesses. The system will be built using similar principles incorporated in the U.K. by Monitise through a joint venture with LINK, the operator of the U.K.’s ATM system. Metavante, which operates the NYCE EFT network, will act as the host system in the U.S., which already provides person-to-person and business-to-business payments. Monitise is a unit of Morse Plc., a technology development and consulting company.